The following Income Statement was prepared for Chop and Saut, Inc., an upscale cooking store:

Chop and Saut, Inc.

Income Statement

For the year ended December 31, 2019

Sales Revenue	$347,000
Cost of Goods Sold	(78,000)
Gross Profit	$269,000
Selling and Administrative Expenses	(43,900)
Operating Income	225,100
Gain on Sale of Equipment	5,500
Net Income	$230,600

All of the companys sales are made on account. At the beginning of the year, the Accounts Receivable balance was $53,500. The balance had decreased to $50,200 by year-end.

All of the companys inventory purchases are made on account. Accounts Payable consists solely of inventory purchases. At the beginning of the year, the Inventory balance was $60,400. By year-end, the balance had increased by $4,900. The net decrease in the Accounts Payable balance during the year was $1,100.

$13,300 in depreciation is included in the Selling and Administrative Expenses. The company uses the direct write off method to account for bad debts. No accounts were either written off or reinstated during the year. All cash operating expenses are paid when incurred.

What was the companys 2019 net cash flows from operating activities?

A.

$235,700

B.

$296,100

C.

$158,300

D.

$222,400

E.

$282,600